Rani Therapeutics’ (RANI) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a report issued on Thursday morning,Benzinga reports. The firm currently has a $9.00 target price on the stock.

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rani Therapeutics presently has a consensus rating of “Buy” and an average price target of $12.33.

Rani Therapeutics Stock Performance

NASDAQ RANI opened at $1.21 on Thursday. The company has a market capitalization of $69.32 million, a price-to-earnings ratio of -1.14 and a beta of 0.24. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34. Rani Therapeutics has a twelve month low of $1.17 and a twelve month high of $8.75. The stock has a fifty day simple moving average of $1.50 and a 200 day simple moving average of $1.80.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings data on Monday, March 31st. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The company had revenue of $1.03 million during the quarter. Sell-side analysts expect that Rani Therapeutics will post -1.01 EPS for the current year.

Institutional Trading of Rani Therapeutics

Large investors have recently modified their holdings of the stock. Stifel Financial Corp boosted its stake in Rani Therapeutics by 100.4% during the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after acquiring an additional 135,148 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Rani Therapeutics by 14.3% during the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after purchasing an additional 21,527 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Rani Therapeutics during the 4th quarter worth about $37,000. Virtu Financial LLC bought a new position in shares of Rani Therapeutics during the 4th quarter worth about $62,000. Finally, Takeda Pharmaceutical Co. Ltd. bought a new stake in Rani Therapeutics in the 4th quarter valued at about $278,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.